Arena Pharmaceuticals (NASDAQ:ARNA) had its target price raised by stock analysts at JMP Securities from $36.00 to $63.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price target would indicate a potential upside of 54.41% from the stock’s current price.
Other analysts also recently issued research reports about the company. Wells Fargo & Co upgraded Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. BidaskClub downgraded Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 16th. ValuEngine upgraded Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Leerink Swann restated a “positive” rating and issued a $56.00 target price (up previously from $53.00) on shares of Arena Pharmaceuticals in a research note on Wednesday, January 17th. Finally, Zacks Investment Research downgraded Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.88.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) opened at $40.80 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. The firm has a market capitalization of $1,601.94, a PE ratio of -43.87 and a beta of 1.64. Arena Pharmaceuticals has a one year low of $11.30 and a one year high of $41.92.
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Arena Pharmaceuticals Company Profile
Arena Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing small molecule drugs across a range of therapeutic areas. The Company has three primary investigational clinical programs: etrasimod (APD334) in Phase II evaluation for ulcerative colitis, APD371 entering Phase II evaluation for the treatment of pain associated with Crohn’s disease, and ralinepag (APD811) in Phase II evaluation for pulmonary arterial hypertension (PAH).
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